Taking a cue from President Donald Trump‘s America First governance mantra, Nigeria’s Federal Executive Council met in Abuja on Monday and rolled out a bold new plan called the Renewed Hope Nigeria First Policy.
The policy puts Nigeria at the heart of all government spending and business activity. It means government agencies must now give priority to buying Nigerian-made goods and services.
Minister of Information, Mohammed Idris, told reporters: “Nigeria is going to be at the center of all business activities relating to this country.”
He added: “If you have any local content, there is no reason for you to go outside this country to import.”
The government will soon issue an executive order to legally back this plan. The Attorney General is working on it already.
What Will Change Under the New Policy
The Bureau of Public Procurement (BPP) must now revise rules to favour Nigerian products and suppliers across all ministries and agencies.
Idris said: “The BPP will create a database of high-quality Nigerian suppliers and enforce local content rules.”
No agency can buy foreign goods already available in Nigeria unless the BPP gives written permission. Anyone who breaks the rules could face punishment.
The Minister gave an example: “We still import sugar even though we have the Nigerian Sugar Council and several local producers. This policy will change that.”
He added: “Contractors will no longer be middlemen bringing in foreign goods while Nigerian factories lie idle.”
Big Plans for Power and International Finance
Also at the meeting, the Council approved a new national electricity policy. Minister of Power, Adebayo Adelabu, said the National Integrated Electricity Policy (NIEP) will drive change in Nigeria’s power sector.
Adelabu said: “This roadmap will guide everyone — from federal and state governments to investors and power consumers.”
He explained that the policy covers power generation, transmission, and the use of renewable energy. It also aims to cut waste and improve how the sector is run.
Meanwhile, the Council approved Nigeria’s purchase of 50 shares, worth $5 million, in the Asian Infrastructure Investment Bank (AIIB).
Finance Minister Wale Edun explained: “Each share costs $100,000. We’re subscribing to 50 shares to complete our membership.”
He said Nigeria now joins 20 other African countries in the AIIB. The bank plans to spend $1 billion on projects across Africa, and Nigeria wants to benefit from that.
Nigeria First, Starting Now
The government says this “Nigeria First” approach is not just talk. It’s a real change in how the government does business.
Idris made it clear: “No foreign contracts will be allowed without clear plans for technology transfer or local job creation.”
He also said all government departments must update their procurement plans right away.
“This policy puts Nigeria – not foreign companies, not imports – at the heart of our national development,” the minister added.
The new policy is part of President Tinubu’s economic reforms. These include subsidy cuts and changes to the foreign exchange market. The aim is to support local businesses, create jobs, and grow the economy.
The President is expected to sign the executive order soon.
Rate, Like 👍, Comment, share this article and Follow us on our social media handles.
WhatsApp Channel
Telegram Channel
